Only 14 percent of the participating institutions can cover their interpreting demand with staff interpreters. They outsource the rest to agencies and freelancers.
Travel is another area that holds untapped opportunities. The international deaf community uses approximately 300 different sign languages, and new ones are popping up all the time. Yet, most interpreting providers only offer services in the official sign language of their country. So what happens when a deaf person travels?
Right now, there is no platform that offers interpreting for all major sign languages. Imagine if the 70 million deaf people in the world had easy access to a platform that offers interpreting into their native sign languages. Not just in hospitals and in courts, but also in restaurants, cafes, hotels, on public transport, and at tourist sites. How much could such a service generate? The technology is out there – all it requires is a platform and a network of sign language interpreters.
Interpreters understand the threat “no voice, no job.” How do hearing loss and acoustic shock affect the profession?
We examined the interpreting markets in 12 different countries. So, what are the three things that the interpreting market needs now?
There are three key influencers for interpreting services in every market: the demand, the government, and the infrastructure.
We recently conducted a large study for which we examined the interpreting markets in 12 countries. We assessed how the interpreting markets are run, what trends, challenges and opportunities stand out, and what drives interpreting - including pricing. Based on our research, we identified five factors that drive pricing in interpreting.